Choosing A Quality Buyers’ Agent

With a great deal of investors and home buyers increasingly time poor, and without access to property research sources, it is becoming increasingly popular to employ the services of a Buyers’ Agent to assist in the acquisition of a property. While this will save you time and effort, the often asked question is: how do you select the right person for the job? 

Just as you would expect a Selling Agent to represent your interests when selling, a Buyers’ Agent will act with the same level of professionalism in helping the buyer achieve their goals. There are several characteristics that you should look for when selecting a Buyers’ Agent but three key areas – namely communication, expertise and negotiation skills – should be at the top of your list. 

First up, a good Buyers’ Agent should be an excellent communicator. They should take the time to fully understand your needs and goals as well as your budget when selecting an investment or your next home, and prepare a brief relative to these requirements. This means that the Buyers’ Agent has a good working knowledge of your expectations and should be able to deliver accordingly. Conversely, if your expectations are unrealistic, a good Buyers’ Agent should be able to communicate this effectively and politely and set you on the right path. 

A good Buyers’ Agent should possess the expertise and knowledge in order to conduct specific research that may affect the purchase of the property and any other relevant items that are important to you the buyer. For example, development potential, re-zoning and major planning projects in the property’s locality can significantly impact on its value over time. If schools are important, they should know which schools are in close proximity. 

Demonstrated negotiation ability is also an extremely important skill that a good Buyers’ Agent should have developed. The Buyers’ Agent should be able to negotiate the deal on your behalf with the seller, including negotiating the contract and settlement terms, as well as ensuring you are paying a fair price for the property. 

Buyers’ Agents, as with any professional, will charge a fee for their service which may be fixed or a percentage of the purchase price of the property. In either case you should ensure this is agreed and discussed from the start of the process. 

Remember, sales agents can offer great value and information when purchasing a property, however they are engaged by the seller and are legally obliged to work in the sellers’ best interest. A Buyer’s Agent is working on behalf of the property buyer and therefore can save you an emormous amount of time while helping you to focus your energies only on the type of property you really want. 

To find your nearest Buyer’s Agent in Australia, please contact REIWA.com.au